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Acquisitions Mergers

NVDA

Nvidia Corporation (NASDAQ:NVDA) has officially recognized Huawei Technologies as a significant competitor in the artificial intelligence (AI) chip market. This acknowledgment was made in a recent filing with the Securities and Exchange Commission, highlighting Huawei's involvement in AI chips and cloud services. Despite challenges from U.S. sanctions and chip constraints, Huawei remains a leader in the Chinese smartphone market. Meanwhile, Nvidia's market cap is nearing $2 trillion, reflecting its strong market position amidst growing AI demand.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 7:33 am

SCBFF

Standard Chartered Plc (OTC:SCBFF) announced a $1 billion buyback and a final dividend of 21 cents a share after reporting a 63% increase in fourth-quarter adjusted pretax profit to $1.06 billion, beating estimates. The bank launched a 'Fit for Growth' program aiming to save $1.5 billion over three years, despite facing challenges in China and a significant stock value drop after its third-quarter earnings report.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 7:23 am

CCEP

Coca-Cola Europacific Partners (CCEP) and Aboitiz Equity Ventures Inc. (AEV) have completed the acquisition of Coca-Cola Beverages Philippines, Inc. (CCBPI) from The Coca-Cola Company (KO) for $1.8 billion. This acquisition, which gives CCEP a 60% ownership and AEV 40%, is expected to be immediately EPS accretive, diversifies CCEP's footprint in the Asia-Pacific region, and aligns with its long-term growth strategy.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 7:22 am

AMZN

GOOGL

MSFT

Saudi Arabia's Public Investment Fund (PIF) is positioning the kingdom as a potential AI hub outside the U.S., leveraging its energy resources and funding capabilities. The announcement was made by Yasir Al-Rumayyan at an investment event in Miami. Saudi Arabia plans to use its position as a global leader in energy and its financial resources to support AI projects, with PIF allocating over 70% of its funds domestically and 20%-25% internationally, aiming to increase its annual fund deployment to $70 billion by 2025-2030. This move aligns with Saudi Arabia's strategy to attract global tech giants and invest in AI infrastructure, despite financial strains.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 7:11 am

SQNS

Renesas Electronics Corporation has terminated its Memorandum of Understanding and tender offer for the acquisition of Sequans Communications S.A. (SQNS). The offer was to purchase Sequans' shares at $0.7575 per share and ADSs at $3.03 per ADS in cash.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:54 am

FLNG

Flex LNG Management AS announced the extension of the Time Charter for Flex Courageous by 2 years, from 2025 to 2027, with an option to extend until 2029. CEO Øystein Kalleklev highlighted the company's strong charter coverage for 2024 and the strategic positioning of their fleet.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:34 am

COIN

HOOD

NVDA

ROKU

TDOC

Cathie Wood's Ark Invest sold nearly $4 million worth of Nvidia (NVDA) shares despite its post-earnings rally, reflecting a strategic portfolio adjustment. The firm also adjusted its stakes in Roku (ROKU), Coinbase (COIN), Robinhood (HOOD), and Teladoc (TDOC), indicating a broader reassessment of its investment strategy amid varying market conditions.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 5:28 am

BTCUSD

ETHUSD

MATICUSD

Reddit has disclosed investments in Bitcoin, Ethereum, and Polygon ahead of its $5B IPO filing. The social platform aims to use these cryptocurrencies for transactions and to enhance its product and engineering teams' understanding of digital assets. This move comes as Reddit prepares to list on the NYSE under the ticker RDDT.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 5:10 am

LOW

TSCO

The rise in multi-generational households due to economic pressures is impacting various sectors, including housing, banking, and retail. The trend, driven by financial necessity and demographic changes, is leading to increased demand for multi-generational homes and remodeling, affecting companies like Home Depot, Lowe's, Lumber Liquidators, and Tractor Supply Company. This shift also poses challenges for the banking sector, as it could lead to decreased demand for credit.

Portfolio Pulse from Marco Rabinowitz

February 23, 2024 | 3:26 am

LUNR

SpaceX CEO Elon Musk congratulated Intuitive Machines (NASDAQ:LUNR) for their successful lunar landing, marking the first U.S. soft landing on the moon since 1972. The spacecraft, Odysseus, developed by Intuitive Machines, landed near the lunar south pole, representing a significant milestone in space exploration. This event highlights the increasing role of private companies in space missions, previously dominated by government agencies.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 2:30 am